Business
AccountingPAYROLL ACCT.,2019 ED.(LL)-TEXTGeorge Clausen (age 48) is employed by Kline Company and is paid a salary of $42,640. He has just decided to join the company’s Simple Retirement Account (IRA form) and has a few questions. Answer the following for Clausen: a. What is the maximum that he can contribute into this retirement fund? $_____ b. What would be the company’s contribution? $_____ c. What would be his weekly take-home pay with the retirement contribution deducted (married, 2 allowances, wage-bracket method , and a 2.3% state income tax on total wages)? $_____ d. What would be his weekly take-home pay without the retirement contribution deduction? $_____
George Clausen (age 48) is employed by Kline Company and is paid a salary of $42,640. He has just decided to join the company’s Simple Retirement Account (IRA form) and has a few questions. Answer the following for Clausen: a. What is the maximum that he can contribute into this retirement fund? $_____ b. What would be the company’s contribution? $_____ c. What would be his weekly take-home pay with the retirement contribution deducted (married, 2 allowances, wage-bracket method , and a 2.3% state income tax on total wages)? $_____ d. What would be his weekly take-home pay without the retirement contribution deduction? $_____
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PAYROLL ACCT., 2019 ED.(LL)-TEXT
19th Edition
BIEG
Publisher: CENGAGE L
ISBN: 9781337619783
BuyFindarrow_forward
PAYROLL ACCT., 2019 ED.(LL)-TEXT
19th Edition
BIEG
Publisher: CENGAGE L
ISBN: 9781337619783
Solutions
Chapter
Section
Chapter 4, Problem 11PA
Textbook Problem
George Clausen (age 48) is employed by Kline Company and is paid a salary of $42,640. He has just decided to join the company’s Simple Retirement Account (IRA form) and has a few questions. Answer the following for Clausen:
- a. What is the maximum that he can contribute into this retirement fund? $_____
- b. What would be the company’s contribution? $_____
- c. What would be his weekly take-home pay with the retirement contribution deducted (married, 2 allowances, wage-bracket method, and a 2.3% state income tax on total wages)? $_____
- d. What would be his weekly take-home pay without the retirement contribution deduction? $_____
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Expert Solution
Chapter 4 Solutions
PAYROLL ACCT.,2019 ED.(LL)-TEXT
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addCh. 4 - Check any item of employee compensation not...Ch. 4 - 1. Grace Kyle submitted a new Form W-4 claiming...Ch. 4 - Tiffany Moulder, married and claiming three...Ch. 4 - Quirk Motors uses the wage-bracket method to...Ch. 4 - Fred Burdette, married with two allowances,...Ch. 4 - 1. Marquat Company deducts union dues from its...Ch. 4 - 1. Taxable tips A. Payments of at least 600 to...Ch. 4 - How is the amount of a fringe benefit that is...Ch. 4 - To what extent are cash tips treated as...Ch. 4 - For each of the following kinds of wage payments,...
Ch. 4 - What is the maximum contribution that an employer...Ch. 4 - What is the maximum amount that an employee can...Ch. 4 - What is a personal allowance? What was the amount...Ch. 4 - Orrin DAmato, single, participates in his firms...Ch. 4 - Are employer contributions into employees health...Ch. 4 - Under what conditions may employees be exempt from...Ch. 4 - How is the special period rule for the reporting...Ch. 4 - Commencing in June, Alan Oldt is eligible to...Ch. 4 - Rhonda Gramm is single, and her wages are paid...Ch. 4 - What formula is used to gross-up supplemental...Ch. 4 - Trowbridge Company has just completed the...Ch. 4 - What is Form 944?Ch. 4 - Why must some employers file Form 1096?Ch. 4 - What is the penalty for filing W-2s with...Ch. 4 - What are the penalties imposed on employees for...Ch. 4 - Under what conditions must employers submit copies...Ch. 4 - Besides the name and address of the payer, what...Ch. 4 - Alex Oberstar, a cook in the Lagomarsino Company...Ch. 4 - Barbri Company ordinarily pays its employees on a...Ch. 4 - Investigate your states income tax withholding law...Ch. 4 - Rena Reynolds, one of your firms workers, has just...Ch. 4 - Anita Leland, a waitress in Atlantis Casino,...Ch. 4 - Justin Holmes, an ex-employee, is entitled to a...Ch. 4 - Sean Matthews is a waiter at the Duluxe Lounge. In...Ch. 4 - Use the percentage method to compute the federal...Ch. 4 - Use (a) the percentage method and (b) the...Ch. 4 - Eaton Enterprises uses the wage-bracket method to...Ch. 4 - The names of the employees of Hogan Thrift Shop...Ch. 4 - Damerly Company (a Utah employer) wants to give a...Ch. 4 - Julie Whiteweiler made 930 this week. Only social...Ch. 4 - The names of the employees of Cox Security Systems...Ch. 4 - Lake Community College gives its faculty the...Ch. 4 - Mattola Company is giving each of its employees a...Ch. 4 - George Clausen (age 48) is employed by Kline...Ch. 4 - During the fourth quarter of 2019, there were...Ch. 4 - During the first full week of 2020, the Payroll...Ch. 4 - Herman Swayne is a waiter at the Dixie Hotel. In...Ch. 4 - Use the percentage method to compute the federal...Ch. 4 - Use (a) the percentage method and (b) the...Ch. 4 - Ernesto Enterprises uses the wage-bracket method...Ch. 4 - The names of the employees of Hogan Thrift Shop...Ch. 4 - Youngston Company (a Massachusetts employer) wants...Ch. 4 - Jen Miller made 1,090 this week. Only social...Ch. 4 - The names of the employees of Matson Office...Ch. 4 - Ocean City College gives its faculty the option of...Ch. 4 - Harrington Company is giving each of its employees...Ch. 4 - Samantha Montgomery (age 42) is employed by Canon...Ch. 4 - During the fourth quarter of 2019, there were...Ch. 4 - During the first full week of 2020, the Payroll...Ch. 4 - During the past week, one of your newly employed...Ch. 4 - Yeager Company pays John Kerr a salary as an...
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